Mortgage and Financial News From 2007-10-5 Page 9

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  • State Street Shares Cut to `Sell' on Legal Exposure (Update3)

    Bloomberg - Exclusive Worldwide Regions Markets Economy Politics Industries Consumer Energy Finance Health Care Insurance Real Estate Technology ... State Street was sued by Prudential Financial Inc. for mortgage-related losses in its retirement accounts. It also may face ...
    2007-10-05 01:55:00

  • Fitch Withdraws Aetna's CMBS Special Servicer Rating

    Forbes - Fitch Ratings withdraws Aetna Life Insurance Company's (Aetna) commercial mortgage-backed securities (CMBS) servicer rating of 'CSS2'. Aetna is no longer named special servicer for any CMBS transactions and has elected to not renew its servicer ...
    2007-10-05 01:26:00

  • American Home Mortgage says Wilbur Ross bid picked as best offer for ...

    CNBC - Investors fled that market after a spike in mortgage defaults. The servicing business, which handles mortgage, tax and insurance payments from borrowers and directs those payments to the proper recipients, employs more than 400 people. It is based in ...
    2007-10-05 02:02:00

  • For the Distressed, Tax Relief. For Others, a Bigger Bite.

    Washington Post - ... income" tax penalty that haunts financially distressed homeowners whose debt is partially forgiven by a lender after a foreclosure or a short sale to avoid foreclosure. The House also voted to extend the tax deductibility of mortgage insurance ...
    2007-10-05 01:12:00

  • Federal Bill Would Prevent Unnecessary Flood Insurance (KATV Little Rock)

    Little Rock (AP) - Senators Mark Pryor and Blanche Lincoln have introduced legislation aimed at preventing property owners from having to buy flood insurance unnecessarily.
    2007-10-05 08:46:17

  • NetBank deal falls through (Atlanta Journal-Constitution)

    A deal that would have sold Market Street Mortgage — a sister company to NetBank, which federal regulators seized last week — fell through Wednesday. "We had been talking with them since (last) Friday," Rickey McCullough, a Federal Deposit Insurance Corp. spokesman, said Friday. "It appears they just decided to do something else." He declined to give further details on the would-be buyer.
    2007-10-05 01:51:57

  • Bill Would Prevent Unnecessary Purchase Of Flood Insurance (KTHV Little Rock)

    Sens. Mark Pryor and Blanche Lincoln have introduced legislation aimed at preventing property owners from having to buy flood insurance unnecessarily.
    2007-10-05 09:36:42

  • Largo brokers mortgage deal (BizJournals)

    Largo Real Estate Advisors Inc. has arranged for a $33.1 million first-mortgage package for the Northpointe Commerce Park in Amherst.
    2007-10-05 09:05:24

  • Hawaii banks offer 6 percent for 30-year mortgage (BizJournals)

    Hawaii's four largest banks each offered rates of 6 percent on 30-year fixed mortgages this week, as national mortgage rates dropped after three weeks of increases.
    2007-10-05 12:49:54

  • Washington Mutual 3Q earnings to tumble

    Boston Globe - Mortgage lenders often rely on secondary markets to sell mortgages in order to fund new lending. Without investors willing to purchase the mortgages, the value of the loans decreases, which has led Washington Mutual to cut the value of its own ...
    2007-10-05 06:02:00

  • UPDATE 1-U.S. mortgage bond prepayments decrease in September

    Reuters - The September figures reflected the impact of a softening housing market and further tightening of underwriting standards by lenders that was spurred by the implosion of the subprime mortgage market. Overall fixed-rate agency prepayment speeds ...
    2007-10-05 11:10:00

  • Jobs data shows economy slowing, not stalling

    Reuters - Washington Mutual Inc (WM.N: Quote , Profile , Research ), one of the largest U.S. mortgage lenders, expects a 75 percent drop in quarterly income because of losses and write-downs on mortgage loans and securities. The jobs data itself showed a ...
    2007-10-05 11:53:00

  • CREDIT WRAPUP 1-Solid jobs growth overshadows financial woes

    Reuters - Washington Mutual Inc (WM.N: Quote , Profile , Research ), one of the largest U.S. mortgage lenders, said it expects a 75 percent drop in third-quarter net income because of adverse housing market and credit conditions. Still, U.S. stocks advanced ...
    2007-10-05 12:21:00

  • Washington Mutual Sees Profit Down 75%

    CNBC - Washington Mutual , one of the largest U.S. mortgage lenders, said Friday it expects a 75% drop in third-quarter net income due to adverse housing market and credit conditions. The bank, whose shares fell 2.2% in premarket trading, said its loan loss ...
    2007-10-05 05:48:00

  • How to Handle a Negative-Amortization Mortgage

    Washington Post - Be sure the lender records either a satisfaction of mortgage or a deed of reconveyance. Some lenders automatically do this for their borrowers. Other lenders send the notarized document to the borrower and let the borrower record it. Either way ...
    2007-10-05 01:12:00

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